pc
nid 93010
Jun 05, 2026
pthandapani@vixio.com
Vietnam
The State Bank Of Vietnam
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1660 charsVietnam's State Bank Seeks Broad Feedback on Proposed Amendments to Banking and Anti-Money Laundering Legislation
On June 4, 2026, the State Bank of Vietnam (SBV) opened a public consultation on a draft law amending and supplementing provisions of three key pieces of legislation: the Law on the State Bank of Vietnam (Law No. 46/2010/QH12), the Law on Prevention and Combating of Money Laundering (Law No. 14/2022/QH15), and the Law on Credit Institutions (Law No. 32/2024/QH15).
The consultation seeks broad input from relevant organisations, individuals, and media outlets on the proposed amendments. The SBV has made available supporting documentation including a draft law, explanatory memorandum with comparative analysis, legislative impact assessment report, and regulatory impact analysis. The consultation materials are available on the SBV's official website, which also provides a dedicated comments section for stakeholders to submit feedback.
This consultation represents a significant step in Vietnam's ongoing efforts to strengthen its banking regulatory framework and enhance anti-money laundering compliance mechanisms. The amendments are expected to address evolving regulatory requirements and align domestic legislation with international standards. The proposed changes will impact credit institutions, financial organisations, and other entities operating within Vietnam's banking and financial services sector.
Stakeholders wishing to contribute to this consultation should submit their comments through the SBV's online platform. The consultation remains open to allow sufficient time for comprehensive feedback from all interested parties before the SBV proceeds with finalising the legislative proposals for submission to the National Assembly.
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2555 charsState Bank of Vietnam Seeks Broad Feedback on Proposed Amendments to Banking and Anti-Money Laundering Legislation
The State Bank of Vietnam is seeking feedback on a draft Law amending and supplementing several articles of the Law on the State Bank of Vietnam (No. 46/2010/QH12), the Law on Anti-Money Laundering (No. 14/2022/QH15), and the Law on Credit Institutions (No. 32/2024/QH15).
The draft law prescribes:
State Bank of Vietnam (SBV) and foreign exchange regulations introducing a strict principle that all transactions, payments, listings, advertisements, and pricing within Vietnam's territory must not be conducted using foreign exchange, except in cases explicitly permitted by the SBV. The amendments also formally assign the SBV the responsibility of compiling, tracking, forecasting, and analyzing Vietnam's international balance of payments and international investment position.
Expansion of Anti-Money Laundering (AML) scope adding "crypto asset services" to the statutory list of reporting entities subject to the nation's AML regulations.
Suspicious transaction reporting for crypto assets detailing 15 specific suspicious indicators for the crypto asset sector (Article 33a). These indicators include splitting transactions to evade reporting thresholds, executing rapid deposits and withdrawals immediately after account creation, transferring assets to providers in high-risk jurisdictions, using transaction mixing services to hide asset origins, and interacting with unregistered platforms or those linked to illicit activities.
Know Your Customer (KYC) and record-keeping provisions updating the documentation required for customer identification and requiring reporting entities to verify the legal status, ownership structure, and ultimate beneficial owners of organizational clients using independent sources. Furthermore, the draft mandates an extended record-keeping period of at least 10 years for transaction histories, originator and beneficiary information, login device histories, and IP addresses.
Amendments for credit institutions amending Article 114 of the Law on Credit Institutions to add acting as a collateral management agent for privately placed corporate bonds to the list of permitted activities.
Inter-ministerial AML responsibilities updating the inspection, supervision, and risk assessment responsibilities of various ministries—including the Ministry of Finance, Ministry of Construction, Ministry of Justice, and Ministry of Information and Communications—over the reporting entities within their respective sectors.
The SBC has not stated a preferred method of feedback or deadline for feedback submission.